San Leon jumps as Polish well shows potential
San Leon Energy, an oil and gas explorer, says drilling at a concession in Poland has "encountered continuous gas shows".
San Leon Energy, an oil and gas explorer, says drilling at a concession in Poland has "encountered continuous gas shows".
The results at the "Braniewo S" dig indicate a wet gas system, although there were also indications of oil.
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"We are excited by the successful drilling and significant data gathering at the Rogity-1 well.Our initial results show the regional variability of the basin and have confirmed our model of a more liquids rich system on the eastern edge of the basin," according to Chairman Oisin Fanning.
The company also indicates it may undertake "hydraulic fracturing" tests, which involve dislodging oil and gas by pumping liquids into the ground.
Shares in San Leon had risen 9% by 12:42.
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